{"id":72610,"date":"2005-04-02T00:00:00","date_gmt":"2005-04-02T00:00:00","guid":{"rendered":"https:\/\/www.deberes.net\/tesis\/sin-categoria\/expectations-interest-rates-and-limited-commitment\/"},"modified":"2005-04-02T00:00:00","modified_gmt":"2005-04-02T00:00:00","slug":"expectations-interest-rates-and-limited-commitment","status":"publish","type":"post","link":"https:\/\/www.deberes.net\/tesis\/ciencias-economicas\/expectations-interest-rates-and-limited-commitment\/","title":{"rendered":"Expectations, interest rates and limited commitment"},"content":{"rendered":"<h2>Tesis doctoral de <strong> Giuseppe Ferrero <\/strong><\/h2>\n<p>El tema gen\u00e9rico de la tesis es el estudio de modelos din\u00e1micos que departen del supuesto tradicional de mercados perfectos y expectativas racionales. en el primer capitulo se estudia la pol\u00edtica monetaria en un modelo de aprendizaje. En este modelo la producci\u00f3n y la inflaci\u00f3n dependen de las expectativas, de los shocks a la econom\u00eda y del tipo de inter\u00e9s determinado por el banco central. En esta econom\u00eda los agentes aprenden sobre la mejor forma de prever la inflaci\u00f3n y la producci\u00f3n futuras. Se muestra que la velocidad de aprendizajes puede ser muy lenta, es decir, que la econom\u00eda con aprendizaje tardar\u00eda mucho tiempo en llegar al equilibrio de expectativas racionales. En particular, si el banco central siguiera las pol\u00edticas econ\u00f3micas que se derivar\u00edan en un modelo de expectativas racionales, la econom\u00eda podr\u00eda tardar tanto en llegar al equilibrio, que estas resultar\u00edan unas malas pol\u00edticas. Mas en concreto, si se toma en cuenta el aprendizaje, la pol\u00edtica optima del banco central tendr\u00eda que reaccionar mucho mas a la tasa de inflaci\u00f3n y incrementar mas el tipo de inter\u00e9s en periodos de inflaci\u00f3n alta.                El segundo capitulo de la tesis aborda el problema de impagos de deudas. En particular se estudia la estipulaci\u00f3n de contratos financieros de seguro y de deuda, tomando en cuenta la posibilidad que se produzcan impagos de la deuda. Recientemente se ha empezado a estudiar modelos de divisi\u00f3n del riesgo bajo el supuesto que, si les conviene, los agentes pueden salir de los contratos quedando excluidos para siempre del mercado. Este supuesto de \u00abexclusi\u00f3n permanente\u00bb se ha mantenido en la literatura por razones t\u00e9cnicas que simplifican el c\u00e1lculo num\u00e9rico del equilibrio. Sin embargo es evidente que se trata de un supuesto poco realista. por lo tanto, el segundo capitulo de la tesis estudia un modelo donde el agente que no cumple el contrato queda excluido solo temporalmente del mercado de deuda.<\/p>\n<p>&nbsp;<\/p>\n<h3>Datos acad\u00e9micos de la tesis doctoral \u00ab<strong>Expectations, interest rates and limited commitment<\/strong>\u00ab<\/h3>\n<ul>\n<li><strong>T\u00edtulo de la tesis:<\/strong>\u00a0 Expectations, interest rates and limited commitment <\/li>\n<li><strong>Autor:<\/strong>\u00a0 Giuseppe Ferrero <\/li>\n<li><strong>Universidad:<\/strong>\u00a0 Pompeu fabra<\/li>\n<li><strong>Fecha de lectura de la tesis:<\/strong>\u00a0 04\/02\/2005<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Direcci\u00f3n y tribunal<\/h3>\n<ul>\n<li><strong>Director de la tesis<\/strong>\n<ul>\n<li>Albert Marcet Torrens<\/li>\n<\/ul>\n<\/li>\n<li><strong>Tribunal<\/strong>\n<ul>\n<li>Presidente del tribunal: pablo Nicolini Juan <\/li>\n<li>kosuke Aoki (vocal)<\/li>\n<li>klaus Adam (vocal)<\/li>\n<li>ram\u00f3n Marim\u00f3n su\u00f1ol (vocal)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesis doctoral de Giuseppe Ferrero El tema gen\u00e9rico de la tesis es el estudio de modelos din\u00e1micos que departen del [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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